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johnlw

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johnlw

Re: None

Saturday, 10/25/2008 9:16:48 PM

Saturday, October 25, 2008 9:16:48 PM

Post# of 92
Hedge funds stop cash withdrawals
From The Sunday Times
October 26, 2008

Investors fume as they are barred from pulling their money out of struggling firms

Iain Dey and Kate Walsh

ONE of Britain’s best-known hedge funds, RAB Capital, has stopped investors cashing out of a second of its flagship funds. Investors in RAB’s Energy fund - which has lost more than 50% of its value this year - have been told they will not be able to liquidate their holdings.

Those who want to quit will be handed “redemption shares” instead of cash - a promise on behalf of the fund to pay back investors as and when it can sell out of enough stocks....

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5014602.ece
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